Forecast for April 1st, 2016
In case of Eurodollar, the chart structure has been changed again. Probably, the price is about to finish the wave 2 of the larger diagonal triangle. On the minor wave level, the market is completing the bullish impulse in the wave (c), which may be followed by a new descending movement in the wave [i].
EUR USD, “Euro vs US Dollar”
More detailed structure of the current impulse is shown on the H1 chart. It looks like the market is finishing the fourth wave in the wave [c]. In the nearest future, the market move upwards in the wave v of (c) and break the local high.
GBP USD, “Great Britain Pound vs US Dollar”The main scenario remains the same. It looks like after completing the wave 4, Pound has formed the bearish impulse in the wave [i] and the ascending correction as well. On Friday, the price may continue forming the intraday flat, which may be followed by a further decline of the pair.
As we can see at the H1 chart, after finishing the double zigzag in the wave [ii], Pound has formed the impulse in the wave (i). During the day, the market may continue the correctional wave (ii), which may be followed by another decline in the third wave.
USD JPY, “US Dollar vs Japanese Yen”Possibly, the wave (4) has been completed in the form of the zigzag. Probably, right now the price is forming another ascending impulse and may continue moving upwards while forming the triangle [iv] during the next several days and breaks its highs.
At the H1 chart, after finishing the bullish impulse in the wave (i), Yen is about to complete the zigzag in the wave (ii). On the minor wave level, the pair has formed the triangle in the wave b, which means that during the day it may fall in the wave c of (ii).
AUD USD, “Australian Dollar vs US Dollar”Probably, the market is about to finish the bullish impulse [с] in the flat 4. On the minor wave level, Australian Dollar has completed the wave (v) and may start forming a new bearish impulse.
As we can see at the H1 chart, Australian Dollar is completing the fourth wave in the wave (v). Consequently, in the nearest future the market may grow in the wave v of (v) and break yesterday’s high. If later the market starts a new descending correction, the price will resume its decline in the wave i.
RoboForex Analytical Department
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